NNN REIT, Inc. (NYSE: NNN) announced the amendment of its unsecured bank credit facility. The amendment increases the available borrowing capacity under the credit facility from $1.1 billion to $1.2 billion. The amended facility matures April 2028, with options to extend maturity to April 2029. All other material loan provisions, including pricing, are unchanged. The amended facility also includes an accordion feature to increase the facility size up to $2.0 billion.
The Board of Directors of NNN REIT, Inc. (NYSE: NNN) today announced a quarterly dividend of 56.5 cents per share payable May 15, 2024 to shareholders of record as of April 30, 2024. NNN is one of only three publicly traded REITs to have increased its annual dividend for 34 or more consecutive years.
NNN REIT, Inc. (NYSE: NNN) today announced that Christopher P. Tessitore, Executive Vice President and General Counsel, will retire effective January 1, 2024. Gina M. Steffens will succeed Mr. Tessitore. Ms. Steffens will join the company as of November 30, 2023.
NNN REIT, Inc. (NYSE: NNN) today announced the pricing of its public offering of $500 Million of 5.600% senior unsecured notes due 2033. The notes were offered at 97.676% of the principal amount with a yield to maturity of 5.905%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, commencing on April 15, 2024. The notes mature on October 15, 2033. NNN intends to use the proceeds to repay all of the outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes.
National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, announced today that its Board of Directors unanimously approved changing the company’s name to NNN REIT, Inc. (“NNN REIT”), effective May 1, 2023.
The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Elizabeth Castro Gulacsy has been appointed to the Board of Directors effective August 17, 2022.
ORLANDO, Fla., April 4, 2022 — National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that it has released its inaugural Corporate Responsibility & Sustainability Report. The report includes NNN’s commitments, achievements, initiatives and ongoing aspirations and references several reporting frameworks, including the Global Reporting Initiative (GRI) Standards and the United Nations Sustainable Development Goals (SDGs).
National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Stephen A. “Steve” Horn, Jr. was appointed to the Board of Directors (the “Board”). Mr. Horn, currently Executive Vice President and Chief Operating Officer, will assume the roles of Chief Executive Officer and President as of April 29, 2022.
National Retail Properties, Inc. (NYSE: NNN) today announced that Julian E. (“Jay”) Whitehurst, President and Chief Executive Officer (“CEO”), will retire and step down as a member of the Board of Directors effective April 28, 2022. Stephen A. (“Steve”) Horn, Jr., currently Executive Vice President and Chief Operating Officer, will assume the role of President and CEO as of April 29, 2022.
